For so long Energy Performance Certificates (EPCs) were little more than coloured paperwork forming part of a conveyancing transaction. This is all set to change from 1 April 2018 with regulations that require commercial properties being leased to have a minimum EPC rating of E. Landlords that rent out properties with lower ratings could face fines of up to £150,000.
Most tenants will recognise the importance of lease terms relating to the amount of rent payable or the length of a lease, but the remaining provisions can be just as, if not more, important with potential ramifications on their business costs.
At the start of April the latest Government reform came into play with the intention of cooling the buy-to-let market, being an additional 3% payable on SDLT charges. The increase also affects those buying a second home or a holiday home however it is the buy-to-let market that it is anticipated will be affected most. So what is the alternative?